ComplyTech: Charles River Compliance IMS

A coxswain in the bow at Cambridge Regatta

Charles River is a technology firm that focuses on investment management business. It focuses primarily on the front- and middle-office operations. It has launched a Compliance service. The service offers monitoring, reporting, lookbacks and risk calculations. This application is provided on the SaaS model (software as a service).

Because compliance is a cost center with little to no monetization available, anyway to lower the cost of it is welcomed by the COO. By the way, if you didn’t know already, compliance departments must sit within the Chief Operating Officer’s span of control. For many banks, compliance sits within the risk department.

Implementing a SaaS model for a financial institution means it has no desire to find a way for compliance to enhance revenue centers. This is sad because that means management of those institutions are not looking for opportunities. In the current economic environment, opportunities for financial institutions are difficult to come by. I won’t go into how a compliance department can help with revenue in this post.

Still, the sign that Charles River has entered the compliance market with the SaaS model is a good sign. Charles River focuses on the investment management business but it is a technology company. Their current compliance service is mostly a workflow solution tailored for the compliance department, but I think they will probably find other ways to implement actual regulatory solutions, which is a solution unlikely to come out of information services like Thomson Reuters or Bloomberg.


The Republican Presidential fields is large; who do you think will win the Republican nomination?


About the Author: M. C. Maltempo is a compliance professional with more than a decade of experience helping banks, law firms and clients manage investigations and regulatory responses. 


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